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Fuel cells
Average Tax Rate
The ratio of total taxes paid to total taxable income, representing the percentage of income that goes towards taxes.
Taxable Income
The amount of an individual's or a company's income used to determine how much tax they owe to the government in a given tax year.
Income Tax
A tax levied by governments on individuals or entities' income. The rate can vary based on the level of income earned.
Regressive
Describing a tax system in which the tax rate decreases as the taxable amount increases, often placing a higher burden on lower-income individuals.
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